Tuesday, December 30, 2008

Yen kept to a tight range-Dec 31.


Japanese Yen kept to a tight range against the USD but found direction with GBP weakness and EUR strength.
Technical outlook:
YEN R1: 91.00 S1:89.80
R2: 91.30 S2:89.70
yen chart pattern indicates the currency to have a slight bullish correction for the day. Trading range for the day is expected between 89.90-90.90 levels .Currency is seen trading between the fast and slow moving average and parabolic is also supporting bull note.

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